The creation of a single BRICS currency should not replace national ones. This was expressed by Brazilian President Luiz Inacio Lula da Silva during the association’s summit. DEA News.
“I advocate the introduction of a unit of account that will not replace our national currencies in trade between BRICS countries,” he said.
On 22 August, the Minister of Finance of the Russian Federation Anton Siluanov announced that the member countries of the BRICS group (Brazil, Russia, India, China, South Africa), they are discussing Possibility to create an alternative joint account unit to dollars. He noted that trade relations have developed with the priority of settlement in national currencies.
Evandro Casianu, head of the monetary policy department at Trace Finance, previously said that the BRICS bank’s can leave the association’s unified digital currency. According to him, the process can be implemented in stages and can take several years.
August 3, press secretary of Russian President Dmitry Peskov knowledgeableThe introduction of a single currency in the BRICS and other unions is unlikely in the near future.
Former Russian President Vladimir Putin announced Refusing to go to the BRICS summit.